Financial Industry Lacks The Timely Data Needed To Carry Out In-Depth Risk Management

Research by QlikTech (NASDAQ: QLIK), a leader in Business Discovery - user-driven Business Intelligence, has found that Risk Managers within capital markets firms are not being provided with information in a timely enough fashion to make business decisions in line with market changes. The study, conducted for QlikTech by Lepus, shows only (5%) of risk managers are provided with information needed to do their jobs in real-time, while 38% said it takes more than four hours to get the latest data after the markets have changed.

The research, which surveyed Risk Managers within capital markets firms, shows that decisions within the industry are being made based on information that, although just received, is already out of date. In fact, 31% of those questioned said they were relying on information only updated on a monthly basis to make important decisions around risk management.

The research also reveals that, when eventually presented with data, a large percentage of it (42%) is still presented in a static spreadsheet format, with over a third (34%) unable to drill further down into the information to get detailed insights. Furthermore, 14% admitted that the data held by Front Office Personnel and Risk Managers is still not consistent with each other.

Mike Saliter, Senior Director Global Market Development - Financial Services, at QlikTech said: “It’s imperative for Risk Managers in the Financial Services industry to have access to up-to-date, accurate information on which to base trading decisions. Traders need the agility to be able to change their minds frequently about what information they need to see as they react to changes in the market. They need to combine information from the markets with information on their own positions in order to make the best decisions. Firms that are able to deliver this quality of information to their traders and risk managers will have a competitive edge.

“At the same time, risk managers need to take a holistic view of the entire organization, enabling them to make firm-wide decisions about risk-appetite and limits.”

QlikTech provides user-driven Business Intelligence (BI) – Business Discovery – to companies and organizations globally across all markets and industries. Over 2,500 financial services institutions worldwide, including Swedbank, Finter Bank Zürich AG and Berenberg Bank (Schweiz) AG, are making use of the QlikView platform.

For more information on this report, visit the QlikView website at http://bit.ly/QOBkXQ.

About QlikTech

QlikTech (NASDAQ: QLIK) is a leader in Business Discovery—user-driven Business Intelligence (BI). Its QlikView Business Discovery solution bridges the gap between traditional BI solutions and inadequate spreadsheet applications. The in-memory associative search technology QlikTech pioneered created the self-service BI category, allowing users to explore information freely rather than being confined to a predefined path of questions. Appropriate from SMB to the largest global enterprise, QlikView’s self-service analysis can be deployed with data governance in days or weeks. The QlikView Business Discovery platform’s app-driven model works with existing BI solutions, offering an immersive mobile and social, collaborative experience. Headquartered in Radnor, Pennsylvania, QlikTech has offices around the world serving approximately 26,000 customers in over 100 countries.

QlikTech and QlikView are trademarks or registered trademarks of QlikTech or its subsidiaries in the U.S. and other countries. Other company names, product names and company logos mentioned herein are the trademarks, or registered trademarks of their respective owners.

Copyright Business Wire 2010

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